SoftBank Group (OTCMKTS:SFTBY) Shares Gap Up – Time to Buy?

SoftBank Group Corp. Unsponsored ADR (OTCMKTS:SFTBY) gapped up prior to trading on Wednesday. The stock had previously closed at $19.62, but opened at $20.25. SoftBank Group shares last traded at $19.40, with a volume of 207,093 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised SoftBank Group from a “hold” rating to a “buy” rating in a report on Friday, June 26th. Sanford C. Bernstein reissued an “outperform” rating on shares of SoftBank Group in a report on Wednesday, June 17th. Five analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, SoftBank Group has an average rating of “Moderate Buy”.

SoftBank Group Stock Down 9.9%

The stock’s 50-day moving average is $18.48 and its 200-day moving average is $18.17. The stock has a market cap of $203.68 billion, a P/E ratio of 6.29 and a beta of 1.91. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 0.89.

SoftBank Group (OTCMKTS:SFTBY) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.12. The company had revenue of $12.82 billion for the quarter, compared to the consensus estimate of $12.23 billion. SoftBank Group had a net margin of 62.60% and a return on equity of 26.14%. As a group, research analysts anticipate that SoftBank Group Corp. Unsponsored ADR will post -0.34 earnings per share for the current fiscal year.

About SoftBank Group

SoftBank Group Corp. is a Japanese holding company focused on technology investments and telecommunications-related businesses. Founded by Masayoshi Son in 1981 as a distributor of computer software, the company expanded into internet services, mobile communications, and global technology investing. Its portfolio has included companies in artificial intelligence, e-commerce, fintech, enterprise software, semiconductors, and other technology sectors.

SoftBank Group manages investment activities through vehicles such as the SoftBank Vision Funds, which provide capital to technology companies at various stages of development.